The PACE Small Business Equity Program is available to Boulder County business owners who meet each of the following criteria:

• Owner lives in Colorado. Minority-owned businesses are highly encouraged to apply
• Business is located in Boulder County
• Business has been in operation for a minimum of two years
• Owner manages and/or works day-to-day operations and makes long-term decisions
• Business pays utility bill
• Total operating square footage is 2,000 square feet or less for restaurants and 5,000 square feet or less for all other business types

If you do not meet all the above criteria and would like to be considered, please fill out and submit the interest form and include detailed information in the exception request section.

1. Eligibility: Review the PACE Small Business Equity Program eligibility checklist to determine if you qualify to participate. If you do not qualify for the Small Business Equity Program, you likely still qualify for regular PACE rebates.
2. Interest form: Complete and submit the interest form. If your equipment is failing at this time, please detail this information in the interest form.
   • Restaurant and Grocery Equipment Grant Interest Form 
   • Outdated Lighting Upgrade Bonus Interest Form
     • PACE Small Business Equity Program Lighting Contractor List
3. Advisor Review: A PACE advisor will contact you to review your interest form and gather additional details needed for the grant application.

Have questions? Contact us at 303-786-7223 or info@PACEpartners.com

After you have contacted us, you will be connected with a PACE advisor who will work with you through the following steps:

1. Equipment Quote: You will receive an equipment quote detailing the amount covered by the grant and the cost you would be responsible for. At your request, the quote can be revised. 
2. Grant Application: If you would like to move forward with replacing equipment, your PACE advisor will help you fill out and submit the application along with all required forms.  
   • Restaurant and Grocery Equipment Grant Application
   • Outdated Lighting Upgrade Bonus Application 
3. Grant Award Notification: Within two weeks of submitting your application, PACE will notify you on the status of your application and potential grant. Grants are awarded on a first come, first served basis while funding is available. 
4. Equipment Payment: Once you’ve been awarded a grant, you will have 30 days from the award date to pay for your portion of the invoice. If you need more time, please inform your PACE advisor. By paying your portion, the equipment order will be placed. Payment instructions are located on the invoice. PACE’s grant, the remaining portion of the project costs, will go directly to the service provider on completion of the work.
5. Equipment Delivery and Installation: A service provider will contact you to schedule the delivery and installation of your new equipment as well as the removal and proper disposal of your old equipment. 
6. Ownership & Maintenance: Once equipment has been installed, you own the new equipment and are responsible for ongoing maintenance. 
7. Follow Up: Your PACE advisor will follow up with you to see how the equipment is better serving you and your business. 

• Grant funding is capped at $20,000 per business annually.
• Existing equipment must be manufactured in 2005 or earlier to qualify for a grant.
• New equipment must be powered by electricity (not natural gas) to be eligible for grant. Conversion of natural gas-powered equipment to electric equipment can qualify. However, costs associated with electrical work will not be covered in grant.
• Old equipment must be removed and properly disposed of by the disposal service provider. As part of the grant, this equipment will no longer be operated or owned by the business or any other entity.
• The total of all incentives (PACE Restaurant and Grocery Equipment Grant, Financial Hardship Lighting Grant, utility rebates, etc.) cannot exceed 70% of total equipment costs unless authorized by PACE.
• Grants cannot be combined with PACE rebates.

As part of the grant application process, the following forms will need to be completed. Your PACE advisor will support you through this process.

Beneficiary Agreement

Together with the City of Boulder, PACE launched a pilot program in 2019 for small, locally owned restaurant and grocery stores. Pilot participants helped PACE identify the biggest barriers to overcome- upfront cost and equipment logistics.

Through the pilot, PACE offered increased financial incentives in the form of an up-front grant, rather than a retroactive rebate as well as a streamlined process for delivering/installing new equipment and properly disposing of old, inefficient equipment.

Pilot participants are now enjoying the benefits of new, energy efficient equipment that is already proving to save money on their monthly utility bills. A win-win for businesses and the environment!

The pilot in the City of Boulder was a huge success and PACE is thrilled to offer the grant countywide!

Rincon Argentino has been operating in Boulder for ten years and participated in the 2019 pilot program.

“We are a small family run business. We try to be as environmentally friendly as possible, but sometimes the steps we want to take are cost prohibitive. We have been wanting to replace our old inefficient refrigerators … but the cost has made it difficult. This program made the upgrades we wanted to complete possible. The expertise and time (from PACE) are as helpful to us as the financial impact.”